Nanosonics Ltd. : Appointment of Managing Director / Chief Executive Officer
12/21/2011| 04:04am US/Eastern
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19 December 2011
Company Announcements Office
Australian Securities Exchange
Appointment of Managing Director / Chief Executive Officer
In line with the ASX Corporate Governance Council
recommendations Nanosonics Limited (ASX Code: NAN) sets out
below the key terms and conditions of Dr Weinberger's new
contract.
Nanosonics formally announces the appointment of Dr Ronald
Peter Weinberger as Managing Director and Chief Executive
Officer (CEO) effective immediately. Dr Weinberger has been
invited to take the permanent CEO role as a reflection of the
strong contribution he has made to the Company's development
and focus since his appointment as interim CEO in May
2011.
.
Dr Weinberger joined the Company in August 2004 and was
appointed Executive Director in July 2008. Dr Weinberger's
remuneration comprises fixed and variable components. The
fixed remuneration may be provided as a combination of cash
and non-cash benefits and is inclusive of all normal and
statutory entitlements, including superannuation. Consistent
with Nanosonics' senior executive employment contracts either
party is required to give three months notice to terminate
the employment contract.
The variable remuneration includes a performance bonus
arrangement (STI) whereby an agreed percentage of the base
salary (excluding superannuation) can apply on the
achievement of certain defined KPI targets. Longer term
incentives (LTI) will be provided through the Nanosonics
share and share option plans (subject to the normal
shareholder approvals).
Nanosonics Limited
Maurie Stang
Chairman
Nanosonics Limited ABN 11 095 076 896 Unit 24 566 Gardeners
Road Alexandria NSW 2015 Australia
Tel: +61 2 8063 1600
Fax: +61 2 9317 5010 Email: info@nanosonics.com.au w: www.nanosonics.com.au
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